Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights December 2013 Year 2013 This

Taxability of interest income earned on FDR - unutilized ...


Interest on State Grant FDRs Not Taxable When Kept as Directed by Government Guidelines.

December 26, 2013

Case Laws     Income Tax     HC

Taxability of interest income earned on FDR - unutilized interest was received, on the amount of grant received from the State Government, and kept in FDRs as per the direction of state government - not taxable - HC

View Source

 


 

You may also like:

  1. Interest income earned on government grants parked in bank accounts for Smart City project implementation was contested. Assessee, established for Smart City Scheme...

  2. Guidelines for Deductions and Payments of TDS by the DDOs Of State Government Authorities under GST.

  3. ITAT ruled that interest earned on fixed deposits from unspent government grants qualifies as grant income under section 10(23C)(iiiac). When this interest is added to...

  4. TDS done by the Ld. AO on the interest granted u/s. 244A(1) - taxability of interest on refund in terms of Article 12(3)(a) of the India- Italy DTAA - the interest in...

  5. Disallowance of deduction u/s 57(iii) - the interest paid on the loans raised against the FDR was having the direct nexus with the interest received from the FDRs and...

  6. Interest on FDR kept for bank guarantee to secure contract to be set off from Project expenses as capital in nature, not taxable as income from other sources

  7. Grant/non grant of pre-arrest Bail - offence and non compliance of GST provisions - HC directed to keep SC order before granting pre-arrest bail.

  8. Power of State Government to levy tax on Lotteries - the scope and ambit of lotteries organised by Government of India or Government of State under Entry 40 of List I is...

  9. The key points of the legal judgment by ITAT Delhi are as follows: The case involved the taxability of interest income on FDRs purchased by Uttarakhand Forest...

  10. The Central Government rescinded Notification Number S.O. 2583 (E) dated 09.10.2009, denotifying the entire area of 10.375 hectares of the Special Economic Zone for...

  11. Taxability of Interest earned on the Central Government grant - the interest earned on the Central Government grant is to be included as a part of the grant received...

  12. Validity of “summary of the order” - the Commissioner of State Tax Department are directed to issue appropriate guidelines/circular/notification elaborating therein the...

  13. State Government or not - Jaipur Development Authority - it is found from records that JDA is constituted by State Government under Jaipur Development Authority Act 1982...

  14. Interest on refund - Where it is found that no refund has been granted pursuant to intimation u/s 143(1), the assessee shall be granted relief from such levy of interest...

  15. The assessee, a government educational institute, received a grant of Rs. 2.50 crore from the Central Government's Ministry of Labour and Employment under the...

 

Quick Updates:Latest Updates